Era Constructions consortium wins NHAI project

New Delhi, Dec 5: Era Constructions India Ltd today said its consortium with other companies has bagged a Rs 300 crore project from National Highways Authority of India (NHAI).

The work order on Build-Operate-Transfer (BOT) basis involves designing, constructing, development, finance, operation and maintenance of a four-lane Gwalior Bypass in Madhya Pradesh.

A separate SPV has been incorporated to execute the project and the concession agreement has been signed with NHAI for this purpose, the company said.

The contract needs to be executed over a period of two and a half years and the total annuity per annum is Rs 53.06 crore during the concession period of 17.5 years.

UNI